Home Prices are Finally Back on Track!

According to the latest report from Fiserv’s Case-Shiller, home prices are predicted to return back to normal, and we should expect gains in our future! After many years of unpredictability, a market increase is headed our way. According to the report, home prices are estimated to increase 3.7%  beginning in the third quarter of 2013 and 2014, and home prices in nearly every metro market are expected to see an increase in 2013. This past year we’ve seen a glimmer of a recovery, and home prices are expected to stabilize, more-so than they have in the past 15 years. From 1998 to 2006, home prices rose 5% or more each year, and once that housing bubble peaked, the plunge was devastating; dropping nearly 30.5% through September of 2012.
In the 4th quarter of 2011 is when we finally began to see signs of stabilization, according to a report by CNNMoney. From Sept 2011-2012 US home prices were on the rise, and several of the metro cities hit hardest by the housing downfall, saw the greatest gain during this time. By the end of 2013, Fisver predicts that nearly all housing markets will see an increase. If you’re looking to sell your home, contact your local Real Estate agent today!

$800k Price Drop in the Highlands!

When an Arthur Erickson designed home hits the market, most Seattleites gain interest in the story but when an Arthur Erickson designed home in the Highlands has a price drop of nearly $1,000,0000; well, now we’ve got your attention. Originally built in 1979, this home has been recognized among the most significant homes in the Pacific Northwest, and sits on 8+ acres in the Highlands. The home boasts white polished concrete & glass ceilings and an open floor plan.  To the south the home looks out over an impressive swimming pool with a sculptural meadow and a prominent woodland backdrop and to the northwest over a reflection pool with mountain and sound views beyond.  The estate also includes a James Cutler designed 1,700 sf guesthouse tucked away so not to disturb the views of the main house.  The estate was previously listed for $4,495,000 and has recently been re-listed for $3,695,000.

Over the past year, there have been six residences that sold in the Highlands, three of which exceeded $3 million. Currently there are 10 active listings in the Highlands. Click the link for more information on this home or others in The Highlands.

Congrats to our Commercial Brokers for Winning Costar Power Broker Award!

Costar, a Washington State Commercial Real Estate information company has released the list of recipients for their annual Power Broker Awards. The winners for the top retail leasing brokers include Tom Graff, and Cameron Kent of Ewing & Clark, who together have established a strong leasing presence in the surrounding Seattle area. What are the awards based on you might ask? The Power Broker Awards are given to those in the community who  have an outstanding performance in what is now an increasingly competitive commercial real estate market. Performance is based on their overall leasing transaction volume for the previous year, as reported by Costar, and measured against all of the active commercial real estate brokers in their market.
Congratulations to Mr. Kent and Mr. Graff for their achievements in the industry! As Costar is among one of the largest research organizations in the US, being recognized as one of the top real estate firms and deal makers around should be considered a great achievement. For more information on the 2012 Power Broker Awards, visit Costar.

Solar Neighborhood Project Energizes Seattle Neighborhoods

Many in Seattle question whether it’s worth investing time and money in solar panels given that Seattle isn’t known for its constant sunny days. Keith Hughes, owner of West Seattle Natural Energy, pointed out that, “Berlin, Germany receives 3.2 peak sun hours per day, and 44 percent of Germany’s energy production comes from solar” where as “Seattle receives 3.8 peak hours of sunlight per day and only 1½ percent of its energy comes from solar power.”

Seattle City Light and Northwest Sustainable Energy for Economic Development (Northwest SEED) are working together to promote and change the way Seattle uses renewable energy through their  Washington initiative. The goal is to change one neighborhood at a time and to have 150 solar systems operating by the summer 2013 . Projects have already been done Queen Anne and Magnolia as well as other Seattle neighborhoods. When a community agrees to go solar Northwest SEED searches for vendors that will give bulk discount for supplies and installation to the homeowners. Each neighborhood is set up on a grid so that the energy that is not used by one homeowner will flow to other neighbors within the grid.
It is estimated that in the past two years Washington has pumped nearly $4 million into the local economy, created 14 new jobs and has generated more than 600 kilowatts of solar electricity to Seattle’s grid. Seattle City Light estimates that only 600 out of its 400,000 customers use solar energy. Benefits of using solar panels are tax credits and rebates as well as lower energy bills. Living in Seattle helps a little too. Seattle’s annual lower temperatures allow the solar panels to work better and the rain washes them off.

Will Streetcars be Returning to Seattle?

It has been over 70 years since Seattle has had streetcars. Once people began moving out of the city and into suburbs and cars became more popular and convenient, there wasn’t as much of a need for them. The rails were removed and paved streets took their place. But now, as more and more people begin moving back into the city the idea of bringing back functioning streetcars has emerged.
One idea is to have the streetcar run down 4th and 5th which would serve mostly commuters and may not have as much use on the weekends as the more favored idea of having the streetcar run down 1st Avenue would. Although having it run on 4th and 5th would be almost $50 million cheaper, being on 1st, the streetcar would run past bars, new restaurants, shops and places that are more popular to tourists all days of the week including weekends. Tom Graff of Ewing and Clark, Inc. agrees that running down 1st is the better option. It would help boost business and attract more to the area.
Some business owners are concerned that if the project does move forward, construction may cause problems by limiting parking spaces and obstructing accessibility to their businesses. They realize that they will benefit from it being on 1st and accept the idea if construction can be controlled. The City of Seattle held an open house Wednesday evening for those who wanted to learn more and discuss the topic as well as to kick off the  Center City Connector Project which will explore transit options for downtown.

Ballard Lofts Design Review Board Meeting This Month

Interested in learning more about the Ballard Lofts project? There will be a design review board meeting for the 72 unit apartment complex proposed for the corner of NW 65th and 24th Ave NW on January 28th at Ballard High School. In recent months, the project has been a  hot topic around the neighborhood, as it will be replacing the long standing Viking Tavern.
Bill Parks, the building developer will be leading the discussion at the meeting beginning at 6:30pm, and present the proposal to the community,  and will also go over priorities presented at the previous meeting. The proposal for the project includes 25 additional residential units, and 3,665 sf of ground floor retail space, as well as parking for 36 vehicles below ground. If you’d like to learn more about the project, or application of the design review process, visit the Department of Planning and Development for updates.

Good Eats in Madison Park

The holidays are over, and cooking a big meal is probably off the menu if you spent the last several weeks entertaining guests with appetizers or ham dinners. Even if you are in the mood to cook, a night out is always a welcome treat. The Madison Park neighborhood has some great spots to grab a bite and a drink, and we thought we’d mention a few:

• Madison Park Conservatory: As of November 2012, the Madison Park Conservatory has been serving up delicious gastro creations for two years. The Conservatory’s chef, Cormac Mahoney (previously of other great Seattle restaurants like Etta’s, Dahlia Lounge and Sitka & Spruce) won Food & Wine magazine’s Best New Chef Award for 2012. His prowess, and the overall goodness of the restaurant’s team show through in their unique and creative menu items.
• Bing’s: Breakfast, lunch and dinner at Bing’s in the Madison Park neighborhood of Seattle make for a classic neighborhood staple. Omelettes, Benedicts, and lunch for breakfast, and sandwiches and burgers for lunch and dinner are the classic, comfortable offerings at Bing’s. When you’re craving good ol’ American tastes with a unique flourish here and there, Bing’s is the place to go.
• An entree item at Jae’s Asian Bistro. Photo credit: Jae’s gallery
  Jae’s Asian Bistro & Sushi: Jae’s owner (Jae) is a sushi artist of the highest quality. For an intriguing mix of Asian appetizers and entrees, Jae’s features a wide variety of options from lunch, through happy hour and into dinner. You can find everything from noodles to woks to curries, salads, and full-fledged entrees. The restaurant also has a “Fresh Sheet” menu that is updated monthly, for an up-to-date offering of sushi rolls, nigiri, and more. This Asian bistro is all about ‘fresh’, from seafood to veggies and everything on the side or in between.

These are just a few of the taste-bud-inspiring stops in Madison Park – we thought they deserved a quick mention. What’s your favorite restaurant in the Madison Park neighborhood of Seattle?